# Alien Metals reports portfolio progress with Elizabeth Hill resource and Munni Munni drilling

- Link: https://www.directorstalkinterviews.com/alien-metals-reports-portfolio-progress-with-elizabeth-hill-resource-and-munni-munni-drilling/4121264730
- Published: 2026-10-01T07:05:00+01:00
- Author: Amilia Stone

**Alien Metals Limited **([LON:UFO](https://www.directorstalkinterviews.com/company/alien-metals-ltd/ufo.l)),
a minerals exploration and development company, has announced its unaudited financial
results for the six months ended 30 June 2026.

**Highlights**

 * Completed the Munni Munni Platinum-Palladium-Copper-Nickel Project joint venture
   transaction with GreenTech Metals Limited (ASX: GRE) (“GreenTech”) in February
   2026, with Alien retaining a 30% interest free carried through to completion 
   of a bankable feasibility study. Alien also received A$500,000 in cash and 47
   million GreenTech shares as consideration for the transaction. Alien continues
   to hold 37.9 million GreenTech shares, representing approximately 10% of GreenTech’s
   issued share capital and providing Alien shareholders with exposure to the Whundo
   Project.
 * Significant progress was made at Munni Munni during the Period, including completion
   of GreenTech’s Phase 1 drilling programme and review of historical exploration
   data which identified potential mineralisation not captured in the historical
   Mineral Resource Estimate, including higher-grade PGE zones and under-recognised
   copper and nickel mineralisation.
 * Continued progress at the Elizabeth Hill Silver Project through joint venture
   partner West Coast Silver Limited (ASX: WCE), including further high-grade drilling
   results. In April 2026, West Coast Silver announced an inaugural JORC (2012) 
   compliant Mineral Resource Estimate (MRE) for Elizabeth Hill of 2.79Moz silver
   at 617 g/t Ag, comprising 0.37Moz Indicated and 2.42Moz Inferred.
 * Alien holds a 30% interest in Elizabeth Hill and holds 30.5 million shares in
   West Coast Silver (representing an approximate 8.7% interest in the issued share
   capital of West Coast Silver).
 * The Group’s iron ore portfolio continues to be led by the 90%-owned Hancock Iron
   Ore Project in the Pilbara, which hosts a JORC-compliant Mineral Resource of 
   8.4Mt at approximately 60% Fe and a maiden Ore Reserve of 1.9Mt at approximately
   60.3% Fe.
 * Following a review of funding alternatives for the Pilbara Iron Ore Portfolio,
   the Board recognised a US$6.7 million non-cash impairment against the Hancock
   Project for the six months ended 30 June 2026, subject to review as part of the
   annual audit.

**Post-Period highlights**

 * In July 2026, Alien completed the acquisition of 100% of Knox Resources Pty Ltd,
   holder of the Georgina Basin Iron-Oxide Copper-Gold Project in the Northern Territory,
   Australia, adding approximately 2,500 km² of prospective tenure to the Group’s
   Australian exploration portfolio.
 * West Coast Silver raising A$6.0 million in September 2026 will support further
   drilling and the completion of a Scoping Study on the Elizabeth Hill Project.

> **Michael Carter, Non-Executive Chairman of Alien Metals, commented:**
> _“The first half of 2026 saw important progress across Alien’s portfolio, including
> the completion of the Munni Munni joint venture with GreenTech and the announcement
> of the inaugural MRE for the Elizabeth Hill Project._
> _“At Munni Munni, the joint venture structure provides Alien with continued exposure
> through our retained 30% interest while substantially reducing our direct funding
> requirements. GreenTech has advanced drilling and technical work aimed at updating
> the historical resource and assessing the broader PGE, copper and nickel potential
> of the project._
> _“Elizabeth Hill also delivered significant progress during the Period, culminating
> in the announcement of an inaugural JORC (2012)-compliant Mineral Resource Estimate
> of 2.79 million ounces of silver at 617 g/t Ag. Ongoing drilling and geophysical
> work continue to assess the broader exploration potential of this high-grade silver
> system._
> _“Following the Period end, the acquisition of the Georgina Basin copper-gold 
> project has further broadened Alien’s Australian portfolio and provides exposure
> to a large-scale IOCG exploration opportunity._
> _“The Board remains focused on disciplined capital allocation, advancing the Group’s
> existing assets and pursuing opportunities that have the potential to enhance 
> long-term value for shareholders.”_

Share on: